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1612 Iron Creek San Antonio, TX 78245

3 Beds 2 Baths 1,658 sqft Built 2017

INVESTimate

$229,990

List Price

$1,420

$1,278 - $1,562

Rent Est.

$238,960  ( +3.90%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $138.72
  • 4 Days on Market
  • MLS # : 1478837
  • Updated Date : 08/23/2020 at 15:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,658 sqft
  • Baths : 2 full
Listing Agent

Lifetime Real Estate Srv, Llc

Listing Agent's Description

Immaculate single story home with lots of included features. Open floor plan includes 3 Bed rooms,2 bath and a covered back patio. Tile flooring thru-out living, dining, kitchen & master bedroom. 2 car garage, garage door opener, water softener, two security cameras and t.v. monitor. The backyard is beautifully landscaped with a variety of plants, fruit trees and includes a storage shed. Community features a pool & playground. Conveniently located near shopping centers and major highways.

SEE MORE

MARKET HIGHLIGHTS

  • San Antonio metro economy is worth $130 billion in Gross Metro Product and projected to grow to $136 billion in 2019 (USMayors.org, 2018)
  • Five Fortune 500 companies are headquartered in San Antonio: Valero Energy; Tesoro; United Services Automobile Association (USAA); CST Brands; and iHeart Media (Formerly CC Media Holdings).
  • The metro employment growth is at 2.3 per cent and predicted to be at 2.2% in 2019 (USMayors.org, 2018)
  • San Antonio metro has 60.7 percent labor force participation rate (USMayors.org, 2018)
  • The metro contributes to 7.2 percent of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: West San Antonio

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $86k205k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: West San Antonio

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8451681

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Michael Elementary School Primary Regular 828 52 3
Vale Middle School Middle Regular 1,349 78 5
Stevens High School High Regular 2,866 172 4

Michael Elementary School

  • Education Level: Primary
  • # of students: 828
  • # of teachers: 52
3
GreatSchools Rating

Vale Middle School

  • Education Level: Middle
  • # of students: 1,349
  • # of teachers: 78
5
GreatSchools Rating

Stevens High School

  • Education Level: High
  • # of students: 2,866
  • # of teachers: 172
4
GreatSchools Rating
 

$206,991$252,989$229,990

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$849
Property Tax -$513
Property Insurance -$123
HOA -$17
Property Management Fees -$99
CASH FLOW
-$180

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$229,990

PROJECTED PRICE

$1,420

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.41%
Appreciation Year (1-5) 3.90%
Maintenance Year (1-5) 8.00%
Vacancy 9.02%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,697

INVESTMENT

$66,697

Down Payment
$57,498
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,498
Loan Amount $172,493
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$527

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,420

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,418

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3953$1,3994$1,4205$1,495
$1,495
RENT COMPS ANALYSIS
  • 1612 Iron Creek San Antonio, 4
    • 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.86
    •  
  • 1211 Prairie Grass San Antonio, 1
    • 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 2012
    LEASED 01/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.82
    •  
  • 10319 Roadrunner Ridge San Antonio, 2
    • 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 2012
    LEASED 11/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.85
    •  
  • 839 Antler Post San Antonio, 3
    • 3 beds 3 baths ∙ 1,574 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,574 Sqft ∙ Built 2005
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.89
    •  
  • 1823 Gray Fox Creek San Antonio, 5
    • 3 beds 2 baths ∙ 1,733 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,733 Sqft ∙ Built 2016
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.86
    •  
PROPERTY LISTING DETAILS
Norris Boyd
1.210.379.6238
Lifetime Real Estate Srv, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
San Antonio Board of Realtors ( SABOR)
MLS #: 1478837
Last Updated: 08/23/2020
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